BNY Mellon Careers

Managing Counsel- Securities Finance

New York, New York
Legal


Job Description

Location: New York

Job Category: Legal

Role:     Attorney dedicated to supporting the Securities Finance business, which is part of BNY Mellon’s Markets business.  Securities Finance Legal provides legal advice and support to the various Securities Finance desks with respect to a variety of products, including cleared repo, agency and principal securities lending, margin loans, bilateral and tri-party repo, and legal guidance in the development of new products.  The attorney will support the Principal Securities Finance businesses: the Secured Term Lending desk, which engages in both margin loans and term repo, the conduit securities lending desk and the FICC cleared repo desk.

 

 Key responsibilities include:

  • Provide legal and regulatory support and advice to the Principal Securities Finance business, and primarily to the Secured Term Lending desk (which engages in both margin loans and term repo), the conduit securities lending desk and the FICC cleared repo desk, and to work with the business teams to expand the cleared repo business to a broad range of clients globally;
  • Advise on various CCP clearing rules and membership matters, and engage with CCPs with respect to new rules and arrangements impacting the business;
  • Develop tailored legal documentation and templates, update and negotiate Principal Securities Finance’s standard form agreements, such as FICC repo, securities lending, term repo agreements, margin loan agreements, various collateral arrangements, non-disclosure agreements, etc;
  • Identify and explain relevant legal issues and risks to the Principal Securities Finance business;
  •  Work closely with Compliance, Credit and Risk partners and other internal lawyers in providing guidance on issues related to legal and contractual matters, operational risks and regulatory matters;

  • Review and approve legal opinions (e.g. jurisdictional, enforceability, insolvency-related, netting opinions, etc), marketing and communication materials;
  • Manage two current reports (Securities Finance attorneys);
  • Manage outside counsel engaged to assist the business;
  • Monitor and advise on relevant legal and regulatory developments;
  • Participate in industry advocacy as part of industry groups, such as SIFMA and ISDA.

 

Qualifications

 

The following experience/skills are essential:
  • Advanced Legal Degree
        ·        At least 10 years’ experience covering securities finance, repo, clearing, and margin lending, and in-house experience would be beneficial;         ·        Prior management experience preferred;
  • Knowledge of the current regulatory issues impacting the securities finance industry, including understanding of Basel III rules, ISDA Resolution Stay Protocol, etc;
  • Familiarity with industry documentation, such as MRAs, MSLAs, ISDAs required;
·        Excellent communication, contract negotiation and writing skills; ability to work well as part of a team; ·        Familiarity with international financial markets, CCPs, collateral arrangements and UCC law; ·         Ability to handle a large number of matters and to prioritize in a fast-paced environment.

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments & safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: bnymellon.com/careers.

As part one of the safest and most trusted financial institutions, the BNY Mellon Legal department mitigates risk and handles legal affairs to ensure the security of the company and its clients. BNY Mellon's Legal Department, has overall responsibility for government affairs and advises on advocacy and policy initiatives of the company to support BNY Mellon's domestic and international operations, and they also support all bank regulatory and supervisory issues.

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer.
Minorities/Females/Individuals With Disabilities/Protected Veterans.


Primary Location: United States-New York-New York
Internal Jobcode: 85116
Job: Legal
Organization: Legal Affairs-HR06241
Requisition Number: 1810195